Joel Greenblatt Gotham Asset Management
Joel Greenblatt is a co-founder of Gotham Asset Management and a well-known value investor, professor, and author. He gained wide recognition for The Little Book That Beats the Market and for popularizing a systematic value approach often called the “magic formula.” Greenblatt’s career spans special-situation investing, quantitative value strategies, and investor education.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$809M |
| 2 |
Apple
AAPL
|
+$122M |
| 3 |
NVIDIA
NVDA
|
+$103M |
| 4 |
Snowflake
SNOW
|
+$83.4M |
| 5 |
iShares 0-3 Month Treasury Bond ETF
SGOV
|
+$80.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AMED
Amedisys
AMED
|
+$33.7M |
| 2 |
ANSS
Ansys
ANSS
|
+$29.2M |
| 3 |
PPG Industries
PPG
|
+$19.8M |
| 4 |
Lockheed Martin
LMT
|
+$17.5M |
| 5 |
SFBS
ServisFirst Bancshares
SFBS
|
+$17M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.53% |
| 2 | Industrials | 12.02% |
| 3 | Consumer Discretionary | 9.89% |
| 4 | Healthcare | 7.59% |
| 5 | Financials | 5.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1551
iShares US Utilities ETF
IDU
$1.32B
| $254K | ﹤0.01% |
2,287
| – | – |
|
1552
iShares Russell 2000 Value ETF
IWN
$14.6B
| $253K | ﹤0.01% |
1,433
| – | – |
|
1553
iShares US Energy ETF
IYE
$1.87B
| $252K | ﹤0.01% |
5,308
| – | – |
|
1554
iShares Global Comm Services ETF
IXP
$501M
| $252K | ﹤0.01% |
2,037
| – | – |
|
1555
Novartis
NVS
$302B
| $251K | ﹤0.01% |
1,956
+191
| +11% | +$23.3K |
|
1556
Adient
ADNT
$1.54B
| $251K | ﹤0.01% |
10,408
-11,452
| -52% | -$268K |
|
1557
New Jersey Resources
NJR
$5.43B
| $249K | ﹤0.01% |
5,166
-2,888
| -36% | -$135K |
|
1558
Impinj
PI
$5.06B
| $247K | ﹤0.01% |
+1,364
| New | +$215K |
|
1559
Kiniksa Pharmaceuticals
KNSA
$6.17B
| $246K | ﹤0.01% |
6,345
-8,331
| -57% | -$271K |
|
|
USAR
1560
USA Rare Earth Inc
USAR
$4.71B
| $246K | ﹤0.01% |
+14,329
| New | +$205K |
|
1561
Outfront Media
OUT
$5.25B
| $246K | ﹤0.01% |
13,428
-12
| -0.1% | -$218 |
|
1562
Invesco S&P 500 Quality ETF
SPHQ
$19.7B
| $245K | ﹤0.01% |
+3,342
| New | +$241K |
|
1563
Upstart Holdings
UPST
$2.95B
| $245K | ﹤0.01% |
4,821
| – | – |
|
1564
Astec Industries
ASTE
$1B
| $242K | ﹤0.01% |
5,037
+3
| +0.1% | +$131 |
|
1565
WD-40
WDFC
$2.91B
| $242K | ﹤0.01% |
+1,226
| New | +$266K |
|
1566
State Street SPDR ICE Preferred Securities ETF
PSK
$679M
| $241K | ﹤0.01% |
7,273
| – | – |
|
1567
Green Plains
GPRE
$1.14B
| $240K | ﹤0.01% |
+27,302
| New | +$239K |
|
1568
Matthews International
MATW
$664M
| $240K | ﹤0.01% |
+9,875
| New | +$242K |
|
1569
Insmed
INSM
$27.5B
| $237K | ﹤0.01% |
+1,649
| New | +$202K |
|
1570
Clarivate
CLVT
$1.33B
| $237K | ﹤0.01% |
+61,906
| New | +$260K |
|
1571
Hamilton Insurance Group
HG
$3.45B
| $237K | ﹤0.01% |
9,552
+12
| +0.1% | +$274 |
|
1572
Red Violet
RDVT
$1.14B
| $236K | ﹤0.01% |
4,526
+26
| +0.6% | +$1.23K |
|
|
STKL
1573
DELISTED
SunOpta
STKL
| $235K | ﹤0.01% |
40,139
+6,743
| +20% | +$41.8K |
|
1574
Corsair Gaming
CRSR
$1.18B
| $234K | ﹤0.01% |
+26,274
| New | +$237K |
|
1575
Interface
TILE
$2.25B
| $234K | ﹤0.01% |
8,081
-4,042
| -33% | -$102K |
|
Similar funds
Joel Greenblatt's Q3 2025 Portfolio in Review
As of Q3 2025, Joel Greenblatt held 1,842 positions worth $23B, up 37% from $16.7B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Joel Greenblatt deployed $5.02B of net new capital in Q3 2025, opening 187 new positions and adding to 950 existing holdings. Its largest new stake was James Hardie Industries: 1,564,473 shares worth $30.1M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was PPG Industries, an estimated $19.8M trimmed.
- Joel Greenblatt's largest Q3 2025 buy was James Hardie Industries: 1,564,473 shares worth $30.1M.
- Joel Greenblatt added most to State Street SPDR S&P 500 ETF Trust in Q3 2025, an estimated $809M increase.
- Joel Greenblatt's biggest Q3 2025 reduction was PPG Industries, cutting an estimated $19.8M.
- Joel Greenblatt fully exited Amedisys in Q3 2025, selling an estimated $33.7M.
- Joel Greenblatt's ten largest holdings make up 28% of its $23B portfolio in Q3 2025.
- Joel Greenblatt opened 187 new positions and closed 166 in Q3 2025.
- Joel Greenblatt's portfolio value rose 37% quarter-over-quarter to $23B.
Based on Gotham Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.